Riyadh – Mubasher: Saudi Aramco has signed a partnership agreement with SAP to establish a new solutions platform for launching a digital business marketplace with thousands of Saudi Aramco buyers and suppliers in partnership with SAP Ariba.

This deal will make Aramco Saudi Arabia’s first company to run solutions on the SAP Cloud Hub, which will launch shortly as part of SAP’s four-year SAR 285 million ($76 million) investment plan in the Kingdom, according to a recent statement. 

“Through the SAP Cloud Hub, SAP continues to co-innovate with the Kingdom’s leading players to drive Saudi Vision 2030 digital transformation and support Saudi job creation through our academies,” the managing director of SAP Saudi Arabia, Bahrain, and Yemen, Ahmed Al-Faifi, said.

As a result to the SAP Ariba source-to-pay applications, buyers and suppliers across the world have benefitted from 60% lower costs, at least 50% greater efficiency, at least 5% higher sales rates, and about 15% better customer retention.